Expand Energy Corporation $EXE Shares Purchased by NEOS Investment Management LLC

NEOS Investment Management LLC raised its stake in shares of Expand Energy Corporation (NASDAQ:EXE) by 16.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 39,707 shares of the company’s stock after acquiring an additional 5,577 shares during the period. NEOS Investment Management LLC’s holdings in Expand Energy were worth $3,621,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Capital Research Global Investors increased its stake in Expand Energy by 33.2% during the fourth quarter. Capital Research Global Investors now owns 21,251,283 shares of the company’s stock worth $2,345,303,000 after purchasing an additional 5,291,948 shares during the period. BlackRock Inc. acquired a new stake in Expand Energy in the second quarter valued at $1,778,004,000. State Street Corp raised its position in shares of Expand Energy by 8.3% during the 3rd quarter. State Street Corp now owns 13,183,560 shares of the company’s stock worth $1,400,621,000 after acquiring an additional 1,014,484 shares in the last quarter. Oaktree Capital Management LP raised its holdings in Expand Energy by 3.5% during the first quarter. Oaktree Capital Management LP now owns 5,237,477 shares of the company’s stock worth $574,970,000 after purchasing an additional 175,114 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in Expand Energy by 94.7% during the 1st quarter. Bank of New York Mellon Corp now owns 4,498,905 shares of the company’s stock worth $493,890,000 after acquiring an additional 2,188,422 shares in the last quarter. Hedge funds and other institutional investors own 97.93% of the company’s stock.

Analysts Set New Price Targets

EXE has been the subject of a number of research reports. Roth Capital reiterated a “neutral” rating and issued a $93.00 price objective on shares of Expand Energy in a research note on Wednesday, July 29th. UBS Group reduced their price target on Expand Energy from $127.00 to $124.00 and set a “buy” rating for the company in a report on Thursday, July 30th. Benchmark reduced their price objective on shares of Expand Energy from $124.00 to $109.00 and set a “buy” rating for the company in a research note on Wednesday, August 12th. Johnson Rice downgraded Expand Energy from a “buy” rating to an “accumulate” rating and decreased their target price for the stock from $135.00 to $125.00 in a research report on Monday, August 17th. Finally, Freedom Broker raised shares of Expand Energy to a “strong-buy” rating in a report on Thursday. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, Expand Energy has an average rating of “Moderate Buy” and an average price target of $126.89.

Insider Activity at Expand Energy

In other news, CEO Michael Wichterich acquired 1,000 shares of the stock in a transaction on Friday, June 12th. The stock was bought at an average price of $88.90 per share, with a total value of $88,900.00. Following the completion of the transaction, the chief executive officer directly owned 85,498 shares of the company’s stock, valued at $7,600,772.20. The trade was a 1.18% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.22% of the company’s stock.

Expand Energy Stock Performance

Shares of EXE stock opened at $97.91 on Monday. Expand Energy Corporation has a one year low of $84.99 and a one year high of $126.62. The firm has a market capitalization of $22.67 billion, a price-to-earnings ratio of 8.46 and a beta of 0.34. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.96 and a current ratio of 0.96. The company has a 50 day moving average price of $92.88 and a 200 day moving average price of $96.95.

Expand Energy (NASDAQ:EXE) last announced its quarterly earnings results on Tuesday, July 28th. The company reported $1.33 EPS for the quarter, topping the consensus estimate of $1.13 by $0.20. The company had revenue of $2.96 billion during the quarter, compared to analyst estimates of $3.05 billion. Expand Energy had a return on equity of 10.33% and a net margin of 20.46%. Sell-side analysts anticipate that Expand Energy Corporation will post 8.84 EPS for the current year.

Expand Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 3rd. Shareholders of record on Thursday, August 13th were given a $0.575 dividend. The ex-dividend date of this dividend was Thursday, August 13th. This represents a $2.30 annualized dividend and a yield of 2.3%. Expand Energy’s dividend payout ratio (DPR) is 19.86%.

About Expand Energy

Expand Energy Corporation is an independent natural gas producer principally in the United States. Expand Energy Corporation, formerly known as Chesapeake Energy Corporation, is based in OKLAHOMA CITY.